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1. The Tax Increment Pledge Agreement attached hereto and <br /> • made a part hereof is hereby approved, and the officers of the <br /> EDA are hereby authorized and directed to take such steps as may <br /> be necessary to execute said Agreement, in substantially the form <br /> as attached, upon approval and execution thereof by the City, and <br /> to carry out and fulfill the provisions and requirements thereof. <br /> 2 . The EDA hereby makes formal request to the Elk River <br /> City Council to issue the Bonds to assist the EDA in financing <br /> the subject public development costs. <br /> Adopted by the Board of Commissioners of the Elk River EDA <br /> this 12th day of July, 1999. <br /> The motion for the adoption of the foregoing Resolution was <br /> duly seconded by Commissioner Bender and upon vote <br /> being taken thereon, the following voted in favor thereof: <br /> Dwyer , Bender, Gongoll, Klinzing, Thompson, Farber, and Motin <br /> and the following voted against the same: None <br /> whereupon said Resolution was declared duly passed and adopted. <br /> • <br /> • 1059219.1 <br />